In a determined move to attract further global businesses including investment and trade to Nigeria positively, Nigeria's Ambassador to Thailand, His Excellency, Ambassador Oma Djebah recently hosted the President of Amazie World Business Group, Dr Parameewath Wistananant and the company's multinational Director, Arrington Simichai, at the Embassy of Nigeria, Bangkok. The high-level meeting focused on…
Lawan: ‘Demon’ Behind Non-passage Finally Defeated The Nigerian Senate has allocated 30 per cent of accruing profit from Nigerian National Petroleum Corporation (NNPC) to the aggressive pursuit of oil exploration in Northern Nigeria in the Petroleum Industry Bill (PIB) passed on Thursday after about two decades of stalling. The 30 per cent funding mechanism approved…
The Niger Delta Power Holding Company (NDPHC), a key intervention agency in the Nigeria's power sector, has contributed over 3,400 megawatts (MW) to the national grid, delivering 22 substations since 2015, a new report has shown. Through its six National Integrated Power Projects (NIPP) thermal power plants and scores of power substations, the company has…
Nigeria’s Gross Domestic Product grew by 0.51 per cent (year-on-year) in Q1, 2021. This marks the second consecutive quarterly growth for the nation, following the negative growth rates recorded in the second and third quarters of 2020. Q1’s growth rate was slower than 1.87 per cent growth rate recorded in Q1 2020 but higher than…
Nigeria's plan to float a new national carrier after the defunct Nigeria Airways got the right impetus on Wednesday as the Minister of Aviation, Hadi Sirika announced that the national airliner christened: 'Nigeria Air' will commence operation in the first quarter of 2022. Sirika made this known while speaking to journalists after the weekly Federal…
Air travel is on the rise in the U.S., indicating an uptick in jet fuel demand. Jet fuel demand has averaged 1.2 mb/d over the past four weeks, up 200,000 bpd     from March levels. In March, 1.2 million passengers passed through U.S. airports per day on average.     …
Despite the significant rally in oil over the past couple of weeks, demand uncertainty continues to affect prices. The outbreak of the second wave of a new Covid-19 strain in India has particularly left the markets concerned about fuel demand in the world’s 3rd largest oil consumer. According to Indian state-owned refiner, Bharat Petroleum, overall fuel demand…
The nation’s bourse key market indicators closed the week upbeat on Friday with a growth of 0.43 per cent. The market capitalisation increased by ₦89 billion or 0.43 per cent to close at N20.568 trillion against N20.479 trillion posted on Thursday. Also, the All-Share Index which opened at 39,131.80 inched higher by 170.02 points or…
The Debt Management Office (DMO), on Wednesday, announced the auctioning of three Federal Government, (FG) bonds of ₦150billion at N1,000 per unit. Details obtained from DMO’s website said that the three bonds were valued at N50 billion each, with interest rates of 16.29 per cent; 12.50 per cent and 9.80 per cent, respectively. It listed…
